MINSK, 22 August (BelTA) – The Finance Ministry suggests discussing the draft decree “On enforcement of the International Standards on Auditing and the Code of Ethics” (the Code of Ethics for Professional Accountants of the International Federation of Accountants). The text of the document has been posted on the National Legal Internet Portal of Belarus, BelTA has learned.
In line with the draft decree, the International Standards on Auditing and the Code of Ethics will be enforced in Belarus in the form of technical normative legal acts.
“The introduction of the International Standards on Auditing and the Code of Ethics was necessitated by the needs of the foreign business investing money in Belarus. In order to lure foreign investors, domestic companies need to bring their financial reporting into line with the International Standards on Auditing and to validate financial reports using international norms and regulations,” the substantiation to the draft decree reads.
There is a need for meaningful integration of the Belarusian auditing system into the international professional community and and for a better quality of auditing services in Belarus.
The public discussion was initiated by the Finance Ministry. Proposals can be submitted in a special section of the Belarus Legal Forum or sent to the organizers via email address audit@minfin.gov.by from 22 August through 1 September.
